BELLEGRO
ActiveSummary
BELLEGRO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €600 and a net result of €321,450. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency25=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
0.1%
Return on assets
69.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 31958 sector peers (2025).
NBB · sector comparisonPosition among 31958 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-03-2026, 151 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
151 d early
2024
70 d early
2023
90 d early
2022
28 d early
2021
31 d early
2020
4 d early
2019
42 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 59 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 22 May (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€600=
2024 · €600
Total assets
€464,863▲ 38.5%
2024 · €335,696
Net result
€321,450▲ 21.2%
2024 · €265,127
Working capital
-€15,059▲ 33.2%
2024 · -€22,539
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€101,527▲ 53.5%€180,535▲ 77.8%€238,903▲ 32.3%€349,783▲ 46.4%€425,410▲ 21.6%
Net result€81,471above the sector's middle half▲ 61.1%€134,110above the sector's middle half▲ 64.6%€181,419above the sector's middle half▲ 35.3%€265,127above the sector's middle half▲ 46.1%€321,450above the sector's middle half▲ 21.2%
Equity€20,460below the sector's middle half▼ 80.8%€2,460below the sector's middle half▼ 88.0%€600below the sector's middle half▼ 75.6%€600below the sector's middle half=€600below the sector's middle half=
Total assets€149,897within the sector's middle half▲ 4.8%€193,954within the sector's middle half▲ 29.4%€260,480within the sector's middle half▲ 34.3%€335,696within the sector's middle half▲ 28.9%€464,863above the sector's middle half▲ 38.5%
Debt€129,437▲ 255%€191,494▲ 47.9%€259,880▲ 35.7%€335,096▲ 28.9%€464,263▲ 38.5%
Working capital-€21,403below the sector's middle half-€36,149below the sector's middle half▼ 68.9%-€31,101below the sector's middle half▲ 14.0%-€22,539below the sector's middle half▲ 27.5%-€15,059below the sector's middle half▲ 33.2%
Solvency13.6%below the sector's middle half▼ 60.9pp1.3%below the sector's middle half▼ 12.4pp0.2%below the sector's middle half▼ 1.0pp0.2%below the sector's middle half▼ 0.1pp0.1%below the sector's middle half=
Current ratio0.83below the sector's middle half▼ 3.750.81below the sector's middle half▼ 0.020.88below the sector's middle half▲ 0.070.93below the sector's middle half▲ 0.050.97below the sector's middle half▲ 0.04
Return on assets (ROA)54.4%above the sector's middle half▲ 19.0pp69.1%above the sector's middle half▲ 14.8pp69.6%above the sector's middle half▲ 0.5pp79.0%above the sector's middle half▲ 9.3pp69.1%above the sector's middle half▼ 9.8pp
Staff (FTE)111=
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 22% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €464,863
Fixed assets
€16,744 ▼ 32.2%
Current assets
€448,119 ▲ 44.1%
Equity and liabilities €464,863
Equity
€600 =
Debt
€464,263 ▲ 38.5%
Debt's share of the balance-sheet total stays at 99.9%.
Key figures and ratios
EBITDA
€433,363▲
2024 · €358,402
Cash flow
€329,404▲
2024 · €273,747
Interest coverage
1426.19▼
2024 · 1764.92
Debt ≤ 1 year
€463,178▲
2024 · €333,538
Income taxes
€103,656▲
2024 · €84,453
Staff costs
€18,050▼
2024 · €19,412
Equity ratios withheld: equity of €600 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,153 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,153 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €7,705 | €11,713 | €18,795 | €19,412 | €18,050 | ▼ 7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,722 | €7,832 | €8,202 | €8,619 | €7,954 | ▼ 7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €1,946 | €781 | €539 | €672 | €882 | ▲ 31.2% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €112,900 | €200,861 | €266,440 | €378,486 | €452,295 | ▲ 19.5% |
| Operating profit (loss)9901 | €101,527 | €180,535 | €238,903 | €349,783 | €425,410 | ▲ 21.6% |
| Financial income75/76B | €25 | €0 | €20 | €1 | - | - |
| Recurring financial income75 | €25 | €0 | €20 | €1 | - | - |
| Financial charges65/66B | €1,428 | €467 | €381 | €203 | €304 | ▲ 49.6% |
| Recurring financial charges65 | €1,428 | €467 | €381 | €203 | €304 | ▲ 49.6% |
| Profit (loss) for the period before taxes9903 | €100,124 | €180,068 | €238,542 | €349,581 | €425,106 | ▲ 21.6% |
| Income taxes67/77 | €18,652 | €45,958 | €57,123 | €84,453 | €103,656 | ▲ 22.7% |
| Profit (loss) for the period9904 | €81,471 | €134,110 | €181,419 | €265,127 | €321,450 | ▲ 21.2% |
| Profit (loss) for the period to be appropriated9905 | €81,471 | €134,110 | €181,419 | €265,127 | €321,450 | ▲ 21.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €149,897 | €193,954 | €260,480 | €335,696 | €464,863 | ▲ 38.5% |
| Fixed assets21/28 | €41,863 | €38,609 | €31,701 | €24,697 | €16,744 | ▼ 32.2% |
| Tangible fixed assets22/27 | €41,863 | €38,609 | €31,701 | €24,697 | €16,744 | ▼ 32.2% |
| Land and buildings22 | - | €1,368 | €1,218 | €1,068 | €918 | ▼ 14.0% |
| Plant, machinery and equipment23 | €1,831 | €1,400 | €969 | €538 | €107 | ▼ 80.0% |
| Furniture and vehicles24 | €35,735 | €32,409 | €26,947 | €21,389 | €14,882 | ▼ 30.4% |
| Leasing and similar rights25 | €0 | - | - | - | - | - |
| Other tangible fixed assets26 | €4,297 | €3,432 | €2,567 | €1,702 | €837 | ▼ 50.8% |
| Current assets29/58 | €108,034 | €155,345 | €228,779 | €310,998 | €448,119 | ▲ 44.1% |
| Amounts receivable within one year40/41 | €42,500 | €104,802 | €100,420 | €128,000 | €132,594 | ▲ 3.6% |
| Trade receivables40 | - | €24,802 | €2,420 | - | - | - |
| Other amounts receivable41 | €42,500 | €80,000 | €98,000 | €128,000 | €132,594 | ▲ 3.6% |
| Cash at bank and in hand54/58 | €62,914 | €43,820 | €119,169 | €174,227 | €306,654 | ▲ 76.0% |
| Deferred charges and accrued income490/1 | €2,620 | €6,723 | €9,190 | €8,771 | €8,871 | ▲ 1.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €149,897 | €193,954 | €260,480 | €335,696 | €464,863 | ▲ 38.5% |
| Equity10/15 | €20,460 | €2,460 | €600 | €600 | €600 | = |
| Contributions10/11 | €18,600 | €600 | €600 | €600 | €600 | = |
| Reserves13 | €1,860 | €1,860 | - | - | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €129,437 | €191,494 | €259,880 | €335,096 | €464,263 | ▲ 38.5% |
| Amounts payable within one year42/48 | €129,437 | €191,494 | €259,880 | €333,538 | €463,178 | ▲ 38.9% |
| Trade debts44 | €9,990 | €8,345 | €1,716 | €1,619 | €1,119 | ▼ 30.9% |
| Suppliers440/4 | €9,990 | €8,345 | €1,716 | €1,619 | €1,119 | ▼ 30.9% |
| Taxes, remuneration and social security45 | €10,659 | €53,593 | €47,311 | €27,830 | €25,301 | ▼ 9.1% |
| Taxes450/3 | €9,775 | €52,491 | €43,744 | €24,155 | €20,928 | ▼ 13.4% |
| Remuneration and social security454/9 | €883 | €1,102 | €3,566 | €3,675 | €4,373 | ▲ 19.0% |
| Other amounts payable47/48 | €108,789 | €129,556 | €210,853 | €304,089 | €436,758 | ▲ 43.6% |
| Accrued charges and deferred income492/3 | - | - | - | €1,558 | €1,085 | ▼ 30.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,471 | €134,110 | €181,419 | €265,127 | €321,450 | ▲ 21.2% |
| + Depreciation and write-downs630 | €1,722 | €7,832 | €8,202 | €8,619 | €7,954 | ▼ 7.7% |
| Operating cash flow (approximation) | €83,193 | €141,942 | €189,621 | €273,747 | €329,404 | ▲ 20.3% |
| Investment in fixed assets (approximation) | - | -€4,578 | -€1,294 | -€1,615 | €0 | ▲ 100% |
| Change in cash | - | -€19,094 | €75,349 | €55,058 | €132,427 | ▲ 141% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
04-02
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2025
31-12
Financial
Highest result since 2018net €321,450 ▲21.2%
Operating result €425,410, net result €321,450, both a record.
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-05
State Gazette act
Board meeting · Director resignation
Director appointment · Permanent representative
02-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
29-02
State Gazette act
General meeting · Auditor reappointment
Power of attorney · Director resignation
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity triplescurrent ratio 4.58
Current ratio from 1.68 to 4.58; short-term debt falls from €64,250 to €25,445.
31-12
Financial
Equity above €100,000Eq €106,618 ▲90.3%
3 profitable years in a row build equity to €106,618.
Show earlier events
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
10-09
State Gazette act
Board meeting · Management committee meeting
Director appointment · Power of attorney
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Herent · 1 establishment unit since 2017
Ground area
924 m²
Building footprint
161 m²
Volume, LiDAR
1,009 m³
Parcel 24423I0037/00G005, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
BELLEGRO
since 20172.268.837.918
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24423I0037/00G005 | Flanders | 924 m² | 1 · 161 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
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Linked via shared directors
NEUHAUS
Shared director
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,623. 3,422 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-09-2017
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0680937723
Also
9925:BE0680937723
Registered
10-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.